Known by the company you keep

Club for default

October 10, 2013 | A whole bunch of the Republicans are spreading the word that a US default would be no big deal; some even claim a default isn't even possible! This is whistling past the graveyard for sure.

It occurred to me to look up what other countries have in recent times defaulted on their debt(GoBankingRates.com).

Venezuela, August 1998

Argentina, January 2002

Russia, August 1998

Moldovia, June 2001, 2002

Ukraine, September 1998 and January 2000

Uruguay, May 2003

Ecuador, August 1999 and December 2008

Dominican Republic, April 2005

Peru, September 2000

Belize, December 2000

The ten countries above are ones that defaulted on their national debt. Now let's recall the country that defaulted on its bonds:

That's right, Greece! After all the caterwauling on the Right that if the US didn't drastically reduce spending it would become Greece!!!, isn't it deliciously ironic that the Right, by leading us to and perhaps over the brink of default, will be responsible for turning the US economy into another Greece!!!